At the end of 2004 Barclays delivered an IFRS update to investors where it indicated that IAS39 was expected to have little or no impact on profits before tax.
Barclays added that it would apply IAS39 in full instead of the EU’s carved-out version.
With the ongoing spat between EU commissioner Charlie McCreevy and the IASB over IAS 39 reaching epic-like proportions, attention was focused on whether the full IAS39 would indeed have minimal effect on Barclay’s profits.
Barclays, however, confirmed that it would not be restating its 2004 accounts in IFRS, so investors will have to wait to see if all the fuss over IAS39 was worth the effort.
Other big companies reporting today include Unilever, which is set to unveil a new board structure that will overhaul its much-maligned two-tiered board; Rolls Royce; and GlaxoSmithKline.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day